USD/CAD, D1

On the daily chart, the pair is trading around the middle line of Bollinger bands, the price range is narrowing. MACD histogram is in the negative area, keeping the signal for opening short positions. Stochastic is in the neutral zone, the lines of the oscillator are directed upwards.

USD/CAD, H4

On the 4-hour chart, the instrument returned to growth after a short-term correction, the pair is trading between the upper border and the middle line of Bollinger bands. MACD histogram is in the positive area, the signal line crosses the body of the histogram upwards, forming a signal for opening long positions. Stochastic is on the border with the oversold area, the signal line is reversing upwards.

Key levels

Resistance levels: 1.2985, 1.3005, 1.3027, 1.3050, 1.3070, 1.3090.

Support Levels: 1.2951, 1.2936, 1.2915, 1.2883, 1.2856

Trading tips

In the short term, it is better to open long positions from the current level with the targets at 1.3050, 1.3070 and stop loss 1.2950. Implementation period: 1–3 days.

Short positions can be opened from the level of 1.2930 with the target at 1.2860. Stop loss is 1.2960. Implementation period: 3–5 days.

US Dollar vs Canadian

BuySellSpread
1.315481.31428120

Scenario

TimeframeWeekly
RecommendationsBUY
Entry Point1.2986
Take Profit1.3050, 1.3070
Stop Loss1.2950
Support levels1.2856, 1.2883, 1.2915, 1.2936, 1.2951, 1.2985, 1.3005, 1.3027, 1.3050, 1.3070, 1.3090

Alternative scenario

RecommendationsSELL STOP
Entry Point1.2930
Take Profit1.2860
Stop Loss1.2960
Support levels1.2856, 1.2883, 1.2915, 1.2936, 1.2951, 1.2985, 1.3005, 1.3027, 1.3050, 1.3070, 1.3090
USD/CAD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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